Tencent Breaks Off Online Literature Service Into Independent Business Unit

April 24, 2014 | Print | Comments | Category: Business, Internet, Telecom & Wireless









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Chinese Internet company Tencent announced that its Internet literature business will implement independent operation as a subsidiary and Wu Wenhui has been appointed chief executive officer of this new entity.

Meanwhile, Shang Xuesong was appointed president of Tencent Literature; Zhang Rong was appointed senior vice president; and Cheng Wu, vice president of Tencent, was appointed chairman of this new company.

Wu said at Tencent's annual launch meeting that Tencent Literature will fully embrace the mobile Internet. By using the latest technical carriers, they will provide a comfortable environment to writers and offer the joy of reading to more readers. Meanwhile, Wu said that Tencent Literature will have a new brand portfolio after commencing its independent operation. For content, they have literature websites for both male and female readers, which will become their two major vertical websites and the sources of original works. For products and channels, they will focus on mobile reading.

Founded in September 2013, Tencent Literature's various websites gained total growth of 50% over the past seven months' operation. The company accumulated 200,000 works, over 300 well-known writers, and 15 million daily active users on mobile devices.

Wu said Tencent Literature will continue to enhance investments to achieve the full intercommunication between mobile and PC products. They will also improve the interactivity of mobile products and optimize reading experience and smart push basing on Tencent's big data platform. At the same time, the company will implement platform analysis and optimization, new channel development, as well as channel content optimization.





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